News You Can Use

Find out about BCEDC’s latest happenings. Timely information on economic development in Bucks County. News about Bucks County businesses, BCEDC board of directors and members, current loan programs and program interest rates.
Aug
04

COVID-19 Relief PA Statewide Small Business Assistance

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SECOND ROUND APPLICATION WINDOW OPENS AUGUST 10TH The PA CDFI Network has announced that the second grant application window will open at 9:00 AM on August 10th and will remain open for 15 business days closing at 11:59 PM on August 28th. WHAT IF I ALREADY APPLIED? If you applied during the first application window you should receive notification of your application status by August 10th. You do NOT need to reapply in the second round. Qualified applications will be automatically rolled over into the next funding round for consideration.   I HAVE NOT APPLIED YET. DO I EVEN QUALIFY? If you haven't yet applied, get your applications in Round 2! In order to get funds to businesses in need as quickly as possible, the second appli...
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Jul
29

Manufacturing Call to Action Portal

Manufacturing Call to Action Portal
If you are a current manufacturer of supplies and products or can pivot your existing manufacturing capabilities to meet the necessary demand, the Pennsylvania DCED would like to hear from you. The PA Manufacturing Call to Action Portal will: Match manufacturers and distributors to fill specific supply chain needs to meet increasing demands for medical supplies and related products.Assist manufacturers that have workforce needs or gaps and aid them in identifying skilled workers.Identify manufacturers that can pivot or innovate to fulfill the demand for medical supplies and related products. Your response will help to facilitate the connections you need to overcome the challenges you are facing to help provide the critical supplies to ...
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Jul
17

COVID-19 PA Hazard Pay Grant Program

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Governor Wolf announced the availability of $50M in grant funding through the COVID-19 PA Hazard Pay Grant Program. This program was established to help employers provide hazard pay to employees in life-sustaining occupations during the COVID-19 pandemic. This reimbursement-based grant is available to employers offering hazard pay during the eligible program period and will be administered by the Pennsylvania Department of Community and Economic Development (DCED). Applicants eligible to apply for grants are businesses, healthcare non-profits, public transportation agencies. Please apply through the Commonwealth of Pennsylvania's website; guidelines, application and F&Q are found here, COVID-19 PA Hazard Pay Grant Program. Do not submit...
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135 Hits
Jul
06

Updated 2020 Third Quarter Interest Rate Options for Qualifying PIDA Loan Applications

These rates are in effect for loan applications received through September 30, 2020. For Real estate loans financing eligible land and building costs, borrowers will have the following interest rate options: For term loans with a regular amortization; Fixed interest rate for the full term of the loan (up to a 15-yr. period), set at the current 10-year treasury yield + 100 basis points. Based on the current 10-year treasury yield, the fixed rate option is 1.75% for the life of the loan.Fixed interest rate for a seven (7) year period set at the 10-year treasury yield. After seven years, the rate will reset to the then-current 10-year treasury yield. Please note, the reset rate is limited to a 200 basis point increase/decrease. The reset rate ...
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228 Hits
Jun
30

COVID-19 Grants for PA Small Businesses

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The COVID-19 Relief Statewide Small Business Assistance Program is now open. Pennsylvania small businesses with 25 or fewer full-time employees, have annual revenues of $1 million or less, and were economically impacted by COVID-19 are encouraged to apply for relief. Grant awards will range from $5,000 to $50,000. It is not a first-come, first-served program. There will be multiple rounds of application windows, and applications will be prioritized and selected for funding based on the program criteria. The first application window will open on June 30th and will remain open for ten business days. All eligible businesses must apply through a Community Development Financial Institution (CDFI) in the county that their business is located. BCE...
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266 Hits
Jun
24

Grants for Small Businesses- AVAILABLE NEXT WEEK

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COVID-19 Relief Pennsylvania Statewide Small Business Assistance - Fact Sheet The COVID-19 Relief Pennsylvania Statewide Small Business Assistance program will provide grants ranging from $5,000 to $50,000 to small businesses that have been economically impacted by COVID-19. This is not a first-come, first-served program. There will be multiple rounds of application windows. The Pennsylvania CDFI Network is a coalition of 17 Community Development Financial Institutions (CDFIs) that will support small businesses throughout the Commonwealth to access the grant funds. For more information, links to participating CDFIs, and a sign-up to receive information, please visit: www.pabusinessgrants.com. Application window for the first round of f...
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318 Hits
Jun
23

Sellersville Manufacturing Plant Bought by Piramal Pharma Solutions

107_main The Sellersville site covers 31.5 acres of land with over 221,000 square feet of manufacturing space. Image courtesy of Piramal Pharma Solutions.
Piramal Enterprises Limited's (PEL) Pharma Solutions business, a contract development and manufacturing organization, has entered into an agreement with G&W Laboratories Inc. to acquire its solid oral dosage drug product manufacturing facility located in Sellersville, PA. According to the terms of the agreement, PEL, through one of its affiliates, would acquire at closing a 100% stake in the entity that operates the facility and owns the related real estate. This acquisition broadens the offering of Piramal Pharma Solutions (PPS) by adding solid oral dosage form capabilities (tablets and capsules) in North America. Until now, PPS' capabilities in solid oral dosage forms were all located in the UK and India. The Selle...
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Jun
18

$225 Million PA Coronavirus Small Business Assistance Program recently announced by Governor Wolf

$225 Million PA Coronavirus Small Business Assistance Program recently announced by Governor Wolf
At this time, program details are still in development. The PA CDFI Network is currently working with the PA Department of Economic and Community Development in support of program implementation. State and federally backed small business grants that do not need to be repaid will become available through select financial institutions before the end of June. The goal is for the application process and portal to be open by July 1st for a set period of time-not first come, first served. Businesses can visit the central informational website www.pabusinessgrants.com through which businesses can learn more about the program and the CDFIs deploying the grants. Applications are not being accepted at this time. Businesses will be eligible to apply w...
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Jun
16

SBA Reopened the Economic Injury Disaster Loan (EIDL)

SBA Reopened the Economic Injury Disaster Loan (EIDL)
Spectacular news out of Washington last night: SBA reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today. "With the reopening of the EIDL assistance and EIDL Advance application portal to all new applicants, additional small businesses and non-profits will be able to receive these long-term, low interest loans and emergency grants – reducing the economic impacts for their businesses, employees and communities they support," said SBA Administrator Jovita Carranza. Remember, the SBA EIDL Loan and EIDL Advance is a separate program from today's Paycheck Protection Program. More flexible Use of Proceeds, longer repayment terms, and differe...
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273 Hits
Jun
12

Bucks and Montco Manufacturing Alliance Present the COVID-19 Business Snapshot Survey Results

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As our region and our state is currently moving back to a new normal, business leaders are faced with a new set of challenges and a broad spectrum of unknowns. What has become painfully obvious is that many pre-COVID-19 strategies do not apply now, predictions on future events are hopelessly flawed, and there is little expertise on how to proceed. Even our legal and medical systems have overturned past precedents and are implementing new remedies and generating corrections from user feedback. Taking a best guess, using collective wisdom, and learning from failures has become the new norm for COVID-19 crisis management.May Survey SummaryThe Manufacturing Alliance of Bucks & Montgomery Counties and the statewide SEWN organi...
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252 Hits

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